Ecopetrol reduces LDPE prices by 8.2%

04 November 2008 22:49  [Source: ICIS news]

HOUSTON (ICIS news)--Colombia’s Ecopetrol reduced prices of low density polyethylene (LDPE) by an average of 8.2% this week to keep domestic prices competitive with foreign alternatives, the producer said on Tuesday.

The new prices were effective on Tuesday and will be in force for one week, when a new adjustment will take place. This was the second large weekly adjustment in as many weeks, reflecting falling international prices and diminishing demand in the country. 

With the reduction, the price of LDPE bagged at the packing warehouse will be Colombian pesos (Ps) 4,166/kg free on truck (FOT), equivalent to $1,779/tonne (€1,405/tonne). Bulk material was slightly cheaper at Ps3,936/kg or $1,681/tonne.

($1 = €0.79)

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By: George Martin
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